PM Modi’s Big Independence Day Announcement: “Double Diwali This Year, Major GST Reforms and Tax Cuts Coming Soon”

New Delhi – In a landmark Independence Day speech, Prime Minister Narendra Modi promised a “double Diwali” gift for the people of India this year. Addressing the nation on the occasion of the 79th Independence Day, PM Modi revealed that next-generation Goods and Services Tax (GST) reforms will be implemented by Diwali, bringing significant tax cuts, cheaper daily essentials, and benefits for small and medium enterprises (SMEs).

The Prime Minister emphasized that after eight years of GST implementation, the time has come to review and simplify the system further for the benefit of citizens and industries. GST, which was launched on July 1, 2017, merged several central and state taxes into one unified indirect tax system, revolutionizing India’s tax structure.

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“This Diwali, I Will Give the Nation Two Reasons to Celebrate”

During his speech from the historic Red Fort, PM Modi declared:

“This year’s Diwali will be a double celebration. We are going to implement major reforms in GST that will make the tax system simpler and reduce the burden on the common man. We have already simplified taxes over the past eight years, but now it’s time for the next leap forward.”

He confirmed that the government has held consultations with various state governments to finalize the next-generation GST reforms, which are expected to:

• Lower taxes on essential goods

• Boost the competitiveness of Indian industries

• Create a more business-friendly environment

• Strengthen the economy through increased consumption and production

PM Modi assured that these reforms would particularly benefit small and medium businesses, making operations smoother and costs lower. He also hinted that everyday items would become more affordable, directly impacting household budgets across the country.

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India’s Economy Earning Global Confidence

Highlighting India’s economic progress, the Prime Minister said that global rating agencies have shown strong confidence in India’s economic indicators.

“Our macroeconomic indicators are robust. This global trust in India’s economy must translate into benefits for farmers, women, the middle class, and entrepreneurs. We are working to ensure that the growth story reaches every section of society,” PM Modi stated.

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‘Viksit Bharat Rozgar Yojana’ – ₹1 Lakh Crore Push for Youth Employment

Alongside tax reforms, PM Modi unveiled a historic employment scheme aimed at empowering India’s youth. Named the Prime Minister Viksit Bharat Rozgar Yojana, this initiative will inject ₹1 lakh crore into job creation in new and emerging sectors.

Under the scheme:

• Young men and women securing their first private-sector job will receive ₹15,000 directly from the government as a joining incentive.

• Companies creating significant employment opportunities will receive special incentives from the government.

• The plan is projected to create job opportunities for 3.5 crore young Indians across the country.

The Prime Minister noted that this initiative would ensure that India’s growing economy translates into real, tangible career opportunities for its youth, helping them contribute to the nation’s development.

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Women Empowerment – From “Lakhpati Didis” to Drone Entrepreneurs

PM Modi dedicated a substantial part of his speech to celebrating women’s empowerment in India. He said that Indian women are making their mark across various sectors, from sports and startups to agriculture and technology.

Highlighting government initiatives, he said:

“We had set a target to make 3 crore women ‘Lakhpati Didis’ – women earning over ₹1 lakh annually – ahead of schedule. Today, I am proud to announce that we have already crossed the 2 crore mark.”

The ‘NaMo Drone Didi’ initiative, which trains women in operating drones for agricultural and business purposes, was praised as a symbol of how technology and women’s entrepreneurship can go hand in hand.

PM Modi emphasized that women’s contributions will continue to grow as they take on more leadership roles in the country’s development journey.

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Why This Matters – The Bigger Picture for India

The announcements made during this Independence Day address are significant for several reasons:

1. GST Reforms Could Boost Economic Growth – By simplifying the tax system and lowering rates, the government aims to increase consumer spending, which can drive GDP growth.

2. Tax Cuts for the Common Man – Cheaper essential goods will directly benefit households, particularly middle- and lower-income families.

3. Support for Small Businesses – SMEs, often burdened by compliance costs, will gain from a more efficient GST system, potentially leading to more investments and job creation.

4. Youth Employment Drive – The ₹1 lakh crore Rozgar Yojana is one of the largest job creation programs in India’s history, signaling a strong focus on employment-led growth.

5. Women at the Forefront – The government’s emphasis on women’s economic participation ensures that half of India’s population actively contributes to and benefits from development.

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What Experts Are Saying

Economic experts have welcomed the announcements, noting that GST reforms have been long-awaited by both businesses and consumers. Analysts predict that:

• Tax rate rationalization could attract more foreign investment

• Employment initiatives could reduce urban unemployment rates

• Women-centric programs could boost rural household incomes and overall consumption

Some economists, however, have cautioned that the execution and timeline for implementing these reforms will be key to their success.

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Looking Ahead – Diwali 2025 as an Economic Turning Point

This year’s Diwali could mark a major economic turning point for India if the GST reforms and employment initiatives roll out effectively. The combination of lower taxes, increased affordability, and greater job opportunities could inject fresh momentum into the Indian economy at a time when the global economic environment remains challenging.

PM Modi’s “double Diwali” promise is not just about celebration lights—it symbolizes a brighter economic future, where policy reforms are directly felt in the lives of ordinary citizens.

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Key Highlights of PM Modi’s Independence Day Speech 2025

• Double Diwali Promise – Major GST reforms to be implemented by Diwali.

• Tax Relief – Lower taxes on essential goods, benefiting households.

• SME Boost – Simplified tax regime for businesses.

• Global Confidence – Strong macroeconomic indicators attracting global trust.

• Viksit Bharat Rozgar Yojana – ₹1 lakh crore scheme to create 3.5 crore jobs.

• Women Empowerment – Over 2 crore “Lakhpati Didis” already achieved; focus on technology-driven entrepreneurship for women.